Iovance Biotherapeutics (NASDAQ:IOVA) Stock Passes Above 50 Day Moving Average – What’s Next?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) shares passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.24 and traded as high as $2.24. Iovance Biotherapeutics shares last traded at $2.16, with a volume of 9,471,968 shares.

Wall Street Analyst Weigh In

Several equities analysts have commented on IOVA shares. Chardan Capital lowered their price objective on Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research report on Wednesday, October 8th. Barclays boosted their price objective on shares of Iovance Biotherapeutics from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, HC Wainwright decreased their target price on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.10.

Iovance Biotherapeutics Stock Up 12.0%

The firm’s fifty day simple moving average is $2.25 and its 200-day simple moving average is $2.26. The firm has a market capitalization of $1.00 billion, a PE ratio of -2.10 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. Iovance Biotherapeutics had a negative net margin of 158.78% and a negative return on equity of 55.24%. The firm had revenue of $67.46 million for the quarter, compared to analysts’ expectations of $76.20 million. As a group, analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vontobel Holding Ltd. bought a new stake in Iovance Biotherapeutics in the 3rd quarter worth about $26,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Iovance Biotherapeutics during the 3rd quarter valued at about $27,000. WealthTrust Axiom LLC grew its stake in shares of Iovance Biotherapeutics by 80.0% in the second quarter. WealthTrust Axiom LLC now owns 18,000 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 8,000 shares during the period. Federated Hermes Inc. raised its holdings in shares of Iovance Biotherapeutics by 67.6% during the third quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 6,095 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in shares of Iovance Biotherapeutics during the third quarter valued at approximately $34,000. 77.03% of the stock is owned by institutional investors.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.